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About dannyf

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    HPC Poster
  1. Sorry but I can’t agree. This kind of help/saving/bailing only serves to rescue those who made bad financial choices, leads to moral hazard, keeps house prices high, and disadvantages all those paying rent for decades waiting for houses to be reasonably priced. Yikes, I’m starting to sound like venger Honestly though, those that made really bad financial decisions need to face the consequences, or why should anyone bother being financially responsible
  2. Fair enough, but you’re treating it as an investment. Maximalists as you call them are not necessarily treating it the same. To many it’s finally a viable alternative money beyond government manipulation, hence the different viewpoint. Both valid views
  3. That’s just a strengthening of the currency (and I agree probably bubbly at current valuations). But the number of bitcoin available is increasing every 10 minutes. Isn’t that actually inflation at the moment?
  4. Just want to point out that bitcoin is not deflationary (yet)
  5. You asked a question and got an answer. Your points have been answered many times in this thread. Im a big gold holder but bitcoin is easier to store and use and holds mostly the same properties. And which had been a better store of wealth since 2008? So what is your point about it being inferior? The public will change
  6. Happy for you (and me) for the increasing values - but I think its a mistake to think of it as a money printing machine. It will likely crash with these bubble prices combined with that kind of thinking. And bubbles and crashes could do longer term harm to crypto in general. +1. And to add that distributing one to everyone on the planet was not even feasible even if you think that was a good idea.
  7. There are a lot of arguments discussions in this thread because I think people are talking about different things. Some are arguing that Bitcoin is a monopoly due to the early adopters getting it, it increasing in price, expecting others to pay more for it in future. Others are arguing it is money/a currency and hence has to have some scarcity - if everyone could get some for free it wouldn't be money would it? I think part of the disagreement comes from the recent 'bubble' prices/increases (whether you think its sustainable or not). This will obviously benefit the earlier holders and lead to resentment and arguments that you're waiting for the 'bigger fool'. However, I think that argument needs to be constrained to talking about the current massive rises and not the general argument for or against bitcoin/crypto. If we talk about long term, as a deflationary currency, it is not the same thing at all. Here I would argue that a store of wealth going up in value (slowly, not bubbly) is a good thing. It's certainly better than having inflation, meaning you constantly have to risk your wealth to beat the inflation (even if that risk is lending it to a bank). And then for future generations, of course they have to earn it or buy it - you don't get gifted wealth. That doesn't make it a monopoly. Like gold, nobody gets allocated some gold upon birth. My personal opinion is that this is probably a bubble at the moment, because I think a lot of buying this year has been due to speculation rather than belief in the underlying technology or present utility. But the reason I bought was for that technology that is money without government control, without money printing, QE, debt money creation etc. with some of the benefits of gold and some additional benefits like instant worldwide exchange. This was just some random thoughts - but whatever your point, whether its that bitcoin is a monopoly or something else, I think it helps to be clear if your argument relates to long term or current 'bubble' prices, or both.
  8. Why is the government using our tax to prevent people going into mortgage arrears? It was a borrowing arrangement between an individual and a business (bank). Leave them to it within the confines of the rules/law. Either bankruptcy, repossession or whatever. Repossession is treated these days as "making people homeless" but it's not. It's making them renters which I've been doing for 16 years now... Losing your home through no fault of your own is something us renters who thought houses were too expensive have to live with
  9. You need to better define intrinsic value. What is the intrinsic value of a £5 note or £50 note. It's just a piece of paper and ink. Why is one intrinsically worth ten times more than the other? What's the intrinsic value of an ounce of gold? It's a lump of metal. Pretty perhaps if made into jewellery. Cryptocurrencies meet all the requirements of sound money with the clear advantage of no counter party risk if you hold yourself, fast worldwide transfers with no middlemen, etc etc. Some even have inflation trending to 0 by some point (e.g. Bitcoin). Surely you must understand these advantages if you follow this site and are appalled at the actions of fiat money creators since 2008? Bitcoins primary advantage over the others is wider acceptance which is critical for money. But who knows long term if it will be usurped But regardless of the above, there is obviously some element of mania involved currently. I have no idea on future valuation changes. But it doesn't change the technological brilliance of it. For me anyway. And what if it did one day start to replace national fiat currencies?
  10. +1. Infuriating comments. I almost signed up to reply. Why should my tax as a renter be spent helping someone to pay a mortgage that over indulged on a house they couldn't afford and outbid me? Why can't they lose the house and rent. There's no sob story articles if I can't afford my rent and have to move somewhere cheaper. The free market is long gone.
  11. Stamp Duty

    That's awful. I feel so bad for you. You really should have commissioned a national newspaper to cover the story. That's where you went wrong 😂
  12. Stamp Duty

    Awwww. God I'm tired of these sob stories. Nobody cares. Sell it then buy your own house and don't pay the additional tax. The tax is there to discourage your behaviour for a good reason
  13. Great video, thanks for sharing
  14. They had offers around 280 in the past and wish they'd taken it. Now it's over 300 and they don't want to reduce because they won't be able to afford the 700k one they've found. They based their next step on the valuation first given for their house, and clearly planned to stretch themselves to the max. Now they can't achieve the price, so they need to lower their expectations.
  15. At least 10 of the homes will be affordable...